Residents of Bacolod City and Negros Occidental interested in owning shares in the company behind GCash can apply for a minimum of 100 shares worth P660 through the app starting Tuesday, Oct. 6.
Mynt Inc., the parent company of the group behind GCash, has set its initial public offering (IPO) price at P6.60 per share.
The offer runs until Oct. 12, the company said.
An IPO allows the public to buy shares in a company before these begin trading on the stock exchange. Buying shares gives an investor a small ownership stake in the business.
The Mynt offering is accessible through GStocks PH within GCash, powered by AB Capital Securities Inc.
For orders placed on Oct. 6 and 7, the first 100 shares will be allocated in real time while shares last, according to the company.
This means those shares are assigned to the order immediately, with order fulfillment beginning Oct. 8.
Requests beyond the first 100 shares will be processed on a first-come, first-served basis, depending on availability. There is no maximum order limit, but users may receive fewer shares than requested.
Interested users must be at least 18 years old and fully verified on GCash.
They can register through GStocks PH on the app’s homepage or Invest tab and select AB Capital Securities Inc., without needing a bank account.
Registered users can transfer money from their GCash wallet to their trading wallet, tap the Mynt IPO banner, enter the number of shares they want, and review the order before confirming the purchase.
Users can check whether their orders are fulfilled, pending, or unfulfilled through the GStocks PH dashboard.
If demand exceeds the shares initially available to the broker, the app’s IPO meter will show the offer as oversubscribed.
Users may still submit orders, but these are not guaranteed, and allocation will be determined after the offer period. Remaining funds will be returned, the company said.
Mynt said it has received its Permit to Sell from the Securities and Exchange Commission.
It is scheduled to list on the Philippine Stock Exchange’s Main Board on Oct. 20 under the stock symbol GCASH.
For first-time investors in Bacolod and Negros Occidental, the company reminded users that share values can rise or fall and that they may not recover their full investment.
Investment decisions should be based on the final prospectus dated Oct. 1, which explains the business, offer terms, and risks.*
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